Every so often, there is a FSBO flare, and many people decide that they can quickly and more profitably sell their homes without the assistance of a listing real estate agent. A small bump in market prices seems to bring with it a lot of sellers who balk at paying any commission upon the sale of their home. I am not going to say that every FSBO seller is wrong, and I am not going to say that they won’t be able to move their home. However, here am going to give you some reasons why FSBO is not a seller’s best option.
- Real estate agents prescreen their buyers. Serious buyers come either with cash in hand or preapproved for a mortgage, unless you’re ready to screen your buyers in this way, you’re going to spend a lot of time with lookie-lous.
- You are going to have to negotiate with a lot of people. Your buyer is going to want the best deal possible, the buyer’s agent who is looking out for the buyer’s best interests, home inspection companies, appraisers, and even the buyer’s bank.
- You will find that some buyer’s agents are reluctant to deal with FSBO sellers instead of a seller’s agent. Professionals are used to dealing with other professionals and do not have the time to do your job, too.
- While you might be paying commission to a real estate agent to sell your home, most sellers have no idea of what goes into an agent’s efforts to move a property. There are listings, open houses, photography, staging, and other services that real estate agents can access at greatly reduced rates as a matter of course.
- Selling your own property also requires adherence to laws regarding seller’s disclosures, home inspections, and other regulations. Just because you’re doing FSBO doesn’t mean that you are exempt, and your buyer could come back you for any breach of regulations.
- You may not have the time to do the job properly, and that can cost you. A house represented by an agent has a better chance of selling at a higher price than a FSBO.
- As of 2015, FSBO market share continues to decline and has now reached only eight percent of real estate sales compared to 89 percent of sellers who are using an agent. It stands to reason that if going FSBO was a way to rake in more money on the sale, there would be a lot more people doing it.
Yes, you may be able to sell your house on your own, meet all the regulatory requirements, correctly file the paperwork, and get to a successful closing. But what is it going to cost you in terms of time and money to do so. For commission you get a professional to do all they can to sell your home quickly, seamlessly, and in full compliance with current law. Call a licensed Florida real estate agent and find out everything they can do for you as a seller.